https://www.scmp.com/rss/23956/feed The latest news, analysis and opinion on Chinachem. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Emily Hung Emily Hung More than 300 homeowners from the fire-ravaged Wang Fuk Court in Tai Po have signed a petition to be sent to Hong Kong’s leader, demanding a face-to-face meeting with the government-appointed Hop On Management Company over unresolved issues. The letter to Chief Executive John Lee Ka-chiu, obtained by the South China Morning Post on Sunday, bore 336 signatures and raised concerns in seven areas. These include the use of remaining renovation funds, the handling of outstanding management fees and... https://www.scmp.com/news/hong-kong/society/article/3346679/over-300-wang-fuk-court-homeowners-petition-hong-kongs-john-lee-meeting?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3346679/over-300-wang-fuk-court-homeowners-petition-hong-kongs-john-lee-meeting?utm_source=rss_feed Sun, 15 Mar 2026 14:22:48 +0000 Peggy Ye,Cao Li Peggy Ye,Cao Li Buyers snapped up most of the nearly 400 new homes released for sale in Hong Kong on Saturday, offering an early gauge of housing demand in one of the biggest launches since the Chinese New Year holiday. As of 7:30pm, about 310 of the 360 units released at Chinachem Group’s Zendo House in Tsim Sha Tsui and Wing Tai Properties’ Cloudview in Sheung Shui had been sold, according to Centaline Property. Louis Chan Wing-kit, vice-chairman and president of the agency, said confidence in Hong Kong’s... https://www.scmp.com/business/article/3346584/developers-roll-out-360-flats-two-hong-kong-projects-amid-improving-sentiment?utm_source=rss_feed https://www.scmp.com/business/article/3346584/developers-roll-out-360-flats-two-hong-kong-projects-amid-improving-sentiment?utm_source=rss_feed Sat, 14 Mar 2026 05:40:16 +0000 Ng Kang-chung Ng Kang-chung The owners’ committee of the fire-hit Wang Fuk Court housing estate in Hong Kong has rejected accusations of poor transparency and accountability as a “baseless smear campaign”, issuing a lengthy report ahead of a legal process to dissolve the group. In a 183-page report issued on Monday to fellow owners of Wang Fuk Court in Tai Po, the group also disclosed that it had paid about HK$180 million (US$23 million) to the contractors for repair and renovation work. The group added that it helped... https://www.scmp.com/news/hong-kong/society/article/3338826/hong-kongs-wang-fuk-court-owners-group-mounts-defence-against-smear-campaign?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3338826/hong-kongs-wang-fuk-court-owners-group-mounts-defence-against-smear-campaign?utm_source=rss_feed Mon, 05 Jan 2026 16:00:09 +0000 Cheryl Arcibal Cheryl Arcibal Chinachem Group has secured a 70,127 sq ft site in Tsuen Wan in the New Territories for more than HK$2.47 billion (US$318 million), beating eight other bidders, according to the Lands Department. The other bidders were Sun Hung Kai Properties, CK Asset Holdings, Henderson Land Development, Great Eagle Holdings, China Overseas Land & Investment, K. Wah International Holdings, Wheelock Properties and a consortium of Sino Land, Kerry Properties and China Merchants Land. The award gives Chinachem –... https://www.scmp.com/business/article/3333300/chinachem-secures-plot-hong-kongs-tsuen-wan-us318-million?utm_source=rss_feed https://www.scmp.com/business/article/3333300/chinachem-secures-plot-hong-kongs-tsuen-wan-us318-million?utm_source=rss_feed Tue, 18 Nov 2025 13:33:34 +0000 Cheryl Arcibal Cheryl Arcibal Nine groups, including some of Hong Kong’s largest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings, Henderson Land and Chinachem Group – have submitted offers for a 70,127 sq ft parcel in Tsuen Wan in the New Territories. The Lands Department received the bids by noon on Friday, the deadline for the tender that began on September 26, according to a spokeswoman, who did not provide further details. The developers confirmed their participation in the tender to the Post. The site at... https://www.scmp.com/business/article/3332837/hong-kongs-top-developers-vie-rare-tsuen-wan-site-test-land-market-rebound?utm_source=rss_feed https://www.scmp.com/business/article/3332837/hong-kongs-top-developers-vie-rare-tsuen-wan-site-test-land-market-rebound?utm_source=rss_feed Fri, 14 Nov 2025 10:44:36 +0000 Ng Kang-chung,Jess Ma,Harvey Kong Ng Kang-chung,Jess Ma,Harvey Kong Firefighters have extinguished a blaze at the Chinachem Tower in Hong Kong’s central business district after a battle that lasted for more than four hours, with at least four people injured. Huge flames erupted when the scaffolding along the building caught fire on Saturday afternoon, sending up thick plumes of smoke that were visible from Kowloon across Victoria Harbour. At least four people were rescued after being trapped inside the tower. According to authorities, 36 firefighting vehicles,... https://www.scmp.com/news/hong-kong/society/article/3329517/firefighters-battle-blaze-chinachem-tower-hong-kong-3-trapped-lift?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3329517/firefighters-battle-blaze-chinachem-tower-hong-kong-3-trapped-lift?utm_source=rss_feed Sat, 18 Oct 2025 09:50:26 +0000 Brian Wong Brian Wong A Hong Kong court has extended convicted forger Peter Chan Chun-chuen’s bankruptcy by four years, citing his failure to settle debts owed to the estate of the late tycoon Nina Wang Kung Yu-sum since losing a high-profile lawsuit over her billion-dollar assets 15 years ago. The High Court on Tuesday suspended Chan’s automatic discharge from a bankruptcy order made in 2021 and ordered that he pay HK$55,000 (US$7,000) in legal fees to an accounting firm that is now in charge of his assets. EY,... https://www.scmp.com/news/hong-kong/law-and-crime/article/3324850/hong-kong-court-extends-bankruptcy-man-who-forged-nina-wangs-will-4-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3324850/hong-kong-court-extends-bankruptcy-man-who-forged-nina-wangs-will-4-years?utm_source=rss_feed Tue, 09 Sep 2025 05:49:36 +0000 Brian Wong Brian Wong A Hong Kong court has temporarily blocked convicted forger Peter Chan Chun-chuen from being discharged from a bankruptcy order imposed on him after he was found to have faked the will of late tycoon Nina Wang Kung Yu-sum and failed to pay HK$28.4 million (US$3.6 million) in legal fees to her charitable foundation. Chan, a former feng shui master who claimed to be Wang’s lover, would have been automatically discharged from the High Court’s 2021 bankruptcy order if no valid objection were raised... https://www.scmp.com/news/hong-kong/law-and-crime/article/3321186/hong-kong-court-blocks-forger-peter-chans-bankruptcy-discharge?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3321186/hong-kong-court-blocks-forger-peter-chans-bankruptcy-discharge?utm_source=rss_feed Fri, 08 Aug 2025 05:38:12 +0000 Cheryl Arcibal Cheryl Arcibal High-end office assets in Hong Kong’s Causeway Bay neighbourhood are expected to draw greater interest from large multinational companies that are seeking to expand in the city, in a boost to the sluggish property market. Following Jane Street Asia’s record-setting HK$30.6 million (US$3.9 million) a month lease for a 223,437 square foot space in Henderson Land’s New Central Harbourfront project in Central, one veteran deal-maker said Causeway Bay was expected to see Hong Kong’s next major office... https://www.scmp.com/business/article/3316264/high-end-office-properties-causeway-bay-lure-major-global-tenants-jll-says?utm_source=rss_feed https://www.scmp.com/business/article/3316264/high-end-office-properties-causeway-bay-lure-major-global-tenants-jll-says?utm_source=rss_feed Sun, 29 Jun 2025 07:32:33 +0000 Edith Lin Edith Lin A veteran property specialist with experience in leading major Hong Kong real estate groups has been appointed to steer the cash-strapped Urban Renewal Authority (URA). The government on Thursday announced the appointment of Donald Choi Wun-hing, the former CEO of Chinachem Group, as the authority’s managing director from June 15 for a three-year term. Incumbent chief Wai Chi-sing is set to retire after a nine-year stint. “[Choi] has a deep understanding of local land and housing planning, the... https://www.scmp.com/news/hong-kong/society/article/3312326/donald-choi-takes-helm-hong-kongs-cash-strapped-ura-amid-mounting-challenges?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3312326/donald-choi-takes-helm-hong-kongs-cash-strapped-ura-amid-mounting-challenges?utm_source=rss_feed Thu, 29 May 2025 10:25:54 +0000 Fiona Chow Fiona Chow A council for the trustee for the more than HK$140 billion (US$18 billion) estate of Nina Wang Kung Yu-sum could be set up next month, potentially ending a decade-long legal saga and allowing the late tycoon’s final wishes to be fulfilled, Hong Kong’s justice minister has said. Secretary for Justice Paul Lam Ting-kwok told lawmakers on Wednesday that he had started looking for suitable council members, who would be responsible for ensuring the estate supported charitable works and public... https://www.scmp.com/news/hong-kong/society/article/3299308/council-overseeing-estate-hong-kongs-nina-wang-be-set-quarter-end?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3299308/council-overseeing-estate-hong-kongs-nina-wang-be-set-quarter-end?utm_source=rss_feed Wed, 19 Feb 2025 09:46:46 +0000 Salina Li Salina Li Six Hong Kong developers are vying for the only residential land plot that the government made available last quarter, but surveyors expect cautious bids amid economic uncertainty and high interest rates. CK Asset Holdings, Sun Hung Kai Properties, Sino Land, K&K Property Holdings and China Overseas Land & Investment were among the bidders. The tender for the 3,580-square-metre site on Mei Tin Road in Tai Wai, Sha Tin, closed on Friday at noon. The site, which will support 360 flats, is about 15... https://www.scmp.com/business/article/3296190/hong-kong-land-sale-fetch-around-us75-million-amid-developer-caution?utm_source=rss_feed https://www.scmp.com/business/article/3296190/hong-kong-land-sale-fetch-around-us75-million-amid-developer-caution?utm_source=rss_feed Fri, 24 Jan 2025 10:38:38 +0000 Connor Mycroft Connor Mycroft Hong Kong’s justice minister has appointed three individuals to supervise the operation of a charitable foundation managing the estate of the late Nina Wang Kung Yu-sum, once Asia’s richest woman. The Department of Justice said on Monday that former Legislative Council president Rita Fan Hsu Lai-tai, ex-Hong Kong Monetary Authority CEO Joseph Yam Chi-kwong and former Baptist University council chairman Cheng Yan-kee had been appointed to serve as members of the supervisory managing organisation... https://www.scmp.com/news/hong-kong/society/article/3293584/hong-kongs-justice-minister-names-3-oversee-late-tycoon-nina-wangs-estate?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3293584/hong-kongs-justice-minister-names-3-oversee-late-tycoon-nina-wangs-estate?utm_source=rss_feed Mon, 06 Jan 2025 07:53:06 +0000 Shining the spotlight on action and achievable goals, the Chinachem Group Sustainability Conference 2024 brought together noted experts from business, government and academia to discuss vital issues that will reshape our world in the decades ahead. The hybrid event, which was held in Hong Kong last month, attracted more than 5,000 participants in-person and online, an increase of 60 per cent on last year. They learned about the latest challenges and successes in efforts to combat climate change,... https://www.scmp.com/native/business/climate-and-energy/topics/chinachem-sustainability-conference/article/3289627/chinachem-group-sustainability-conference-2024-examines-impacts-climate-change?utm_source=rss_feed https://www.scmp.com/native/business/climate-and-energy/topics/chinachem-sustainability-conference/article/3289627/chinachem-group-sustainability-conference-2024-examines-impacts-climate-change?utm_source=rss_feed Mon, 09 Dec 2024 04:05:30 +0000 Salina Li Salina Li Hong Kong property developer Chinachem Group won a government land tender in the New Territories at a price within market expectations amid muted sentiment for land bidding, consultants said. Keen Mighty Limited, a subsidiary of Chinachem Group Holdings, won the site in Sha Tin with a bid of HK$1.02 billion (US$131 million), the Lands Department said on Tuesday. The 5,652-square-metre (60,838 sq ft) site at the junction of Sha Tin Wai Road and Siu Lek Yuen Road can support a total of 570 units.... https://www.scmp.com/business/article/3284357/chinachem-wins-hong-kong-land-tender-us131-million-bid-amid-subdued-sentiment?utm_source=rss_feed https://www.scmp.com/business/article/3284357/chinachem-wins-hong-kong-land-tender-us131-million-bid-amid-subdued-sentiment?utm_source=rss_feed Tue, 29 Oct 2024 12:00:21 +0000 Cheryl Arcibal Cheryl Arcibal Chinachem Group and the Urban Renewal Authority sold out all flats in Echo House on Sunday, the latest project to receive a warm reception from homebuyers following an easing of mortgage financing and a cut in interest rates. All 198 units in the Cheung Sha Wan project were sold after sales started at 9am, according to agents. Hong Kong’s property market has seen rising home sales in recent weeks following the policy-easing cycle by the Hong Kong Monetary Authority (HKMA) last month. This was... https://www.scmp.com/business/article/3284062/hong-kong-property-chinachems-echo-house-cheung-sha-wan-hit-buyers?utm_source=rss_feed https://www.scmp.com/business/article/3284062/hong-kong-property-chinachems-echo-house-cheung-sha-wan-hit-buyers?utm_source=rss_feed Sun, 27 Oct 2024 10:37:00 +0000 Salina Li Salina Li Top Hong Kong developers have submitted bids for a government land tender in the New Territories, but experts believe the response could be lukewarm because of high inventory levels and rising construction costs. The tender for the only residential land to go on sale in the second quarter of the current financial year closed at noon on Friday. The Lands Department said it had received a total of six bids. Five developers confirmed submitting bids – Sun Hung Kai Properties (SHKP), Wheelock... https://www.scmp.com/business/article/3283899/hong-kong-property-sun-hung-kai-wheelock-and-ck-asset-submit-bids-sha-tin-plot?utm_source=rss_feed https://www.scmp.com/business/article/3283899/hong-kong-property-sun-hung-kai-wheelock-and-ck-asset-submit-bids-sha-tin-plot?utm_source=rss_feed Fri, 25 Oct 2024 10:13:00 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developers are gradually raising prices amid increasing confidence in the outlook of the city’s housing market following a slew of measures that have caused buyers to step into the market. Chinachem Group on Monday raised the price slightly of the second batch of flats at the 198-unit Echo House residential project in Cheung Sha Wan after 5,500 buyers registered for 100 units going on sale. The batch of 50 units will have an average price of HK$15,440 (US$1,987) per square foot after... https://www.scmp.com/business/article/3283276/hong-kong-property-market-sees-price-increases-confidence-returns-sales-surge?utm_source=rss_feed https://www.scmp.com/business/article/3283276/hong-kong-property-market-sees-price-increases-confidence-returns-sales-surge?utm_source=rss_feed Tue, 22 Oct 2024 01:30:17 +0000 Cheryl Arcibal,Yulu Ao Cheryl Arcibal,Yulu Ao Chinachem Group is pricing some of its new flats at the Echo House residential project in Cheung Sha Wan at an eight-year low to attract buyers, suggesting recent government support measures have not been enough to engineer a housing market recovery. The private developer will sell 50 of the 198 units there at HK$14,888 (US$1,917) per square foot on average after discounts, according to director of sales Helen Fung. That is the lowest in the district since Henderson Land sold its Park One... https://www.scmp.com/business/article/3282481/hong-kong-developer-prices-cheung-sha-wan-flats-2016-levels-rebound-proves-elusive?utm_source=rss_feed https://www.scmp.com/business/article/3282481/hong-kong-developer-prices-cheung-sha-wan-flats-2016-levels-rebound-proves-elusive?utm_source=rss_feed Tue, 15 Oct 2024 11:36:26 +0000 Cheryl Arcibal Cheryl Arcibal Nina Hospitality, the hotel unit of Hong Kong-based private developer Chinachem Group, is looking to expand into mainland China and overseas markets such as the UK, Australia and Singapore within two years. The company is setting the goal following a 2021 rebranding effort helmed by its new managing director Simon Manning, who joined the company the same year. “Our goal in the short term is to be a leading hospitality group within Hong Kong,” Manning said in an interview with the Post. “But... https://www.scmp.com/business/article/3277647/chinachems-nina-hospitality-eyes-uk-singapore-markets-while-hong-kong-regains-momentum?utm_source=rss_feed https://www.scmp.com/business/article/3277647/chinachems-nina-hospitality-eyes-uk-singapore-markets-while-hong-kong-regains-momentum?utm_source=rss_feed Sun, 08 Sep 2024 04:30:12 +0000 Salina Li Salina Li Hong Kong-listed New World Development (NWD), which has set a target of reducing its gearing ratio to below 40 per cent by 2027, is making steady progress through repayments and reworking its debt obligations. The conglomerate, owned by one of the city’s wealthiest families, said on Friday that it had completed more than HK$16 billion (US$2.05 billion) of loan arrangements and debt repayments in July and August, including early refinancing of certain loans due in 2025. This follows HK$35 billion... https://www.scmp.com/business/article/3276460/hong-kongs-nwd-steps-debt-reduction-us2-billion-repayments-refinancing?utm_source=rss_feed https://www.scmp.com/business/article/3276460/hong-kongs-nwd-steps-debt-reduction-us2-billion-repayments-refinancing?utm_source=rss_feed Fri, 30 Aug 2024 00:30:08 +0000 Martin Choi Martin Choi Hong Kong developer Chinachem Group and the Nano and Advanced Materials Institute (NAMI) have partnered to launch a sustainable protective window coating as part of an industry push to use green technology to reduce construction waste. The patented peelable nano-scale protective coating will be applied to windows for around 2,300 units of Chinachem’s residential projects in Tai Po and Tung Chung during construction over the next two years, said Donald Choi Wun-hing, executive director and CEO of... https://www.scmp.com/business/article/3268766/hong-kong-builder-chinachem-launches-protective-window-coating-cut-construction-waste?utm_source=rss_feed https://www.scmp.com/business/article/3268766/hong-kong-builder-chinachem-launches-protective-window-coating-cut-construction-waste?utm_source=rss_feed Tue, 02 Jul 2024 02:00:26 +0000 Aileen Chuang Aileen Chuang New World Development (NWD), the conglomerate owned by one of Hong Kong’s wealthiest families, said it has completed around HK$35 billion (US$4.5 billion) in “low-interest and long-tenure” loans and debt repayments since January. NWD announced on Monday that it was able to secure multiple low-cost new loans to replenish its liquidity and increase the proportion of yuan loans to reduce overall financing costs. The average interest rate for its offshore loans was about 1.1 per cent above Hibor,... https://www.scmp.com/business/banking-finance/article/3267865/hong-kongs-new-world-development-touts-us45-billion-new-loans-repayments?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3267865/hong-kongs-new-world-development-touts-us45-billion-new-loans-repayments?utm_source=rss_feed Mon, 24 Jun 2024 12:30:26 +0000 Hong Kong real estate tycoon Donald Choi Wun-hing will retire and step down as CEO of property developer Chinachem Group after more than six years on September 1, passing his role to Andy Cheung Lee-ming, currently an independent non-executive director, the company said. Choi, 66, joined the privately owned developer in 2018, filling a two-year vacancy at CEO after the dismissal of Sunny Yeung. A seasoned architect with more than three decades of experience, Choi led a transformation of the... https://www.scmp.com/business/china-business/article/3264839/hong-kong-developer-chinachem-names-former-link-reit-executive-next-ceo-donald-choi-sets-retirement?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3264839/hong-kong-developer-chinachem-names-former-link-reit-executive-next-ceo-donald-choi-sets-retirement?utm_source=rss_feed Fri, 31 May 2024 05:30:11 +0000 Hong Kong developers’ low-price strategy for new flats continued to liven up the local market, as hundreds of buyers on Saturday flocked to Great Eagle Holdings’ Onmantin residential project in Ho Man Tin. All 260 flats on offer were sold by 9pm, according to agents. The project recorded 7,500 orders from prospective buyers, or 28 times more than the initial number of flats on offer. “The project received a warm market response with the high oversubscription rate,” said Sammy Po Siu-ming, CEO of... https://www.scmp.com/business/china-business/article/3260640/hong-kong-homebuyers-enticed-big-discounts-snap-most-flats-offer-great-eagles-onmantin-project?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3260640/hong-kong-homebuyers-enticed-big-discounts-snap-most-flats-offer-great-eagles-onmantin-project?utm_source=rss_feed Sat, 27 Apr 2024 11:24:58 +0000 New World Development (NWD) has agreed to sell its shopping centre and associated parking spaces in Tsuen Wan to rival Hong Kong developer Chinachem Group for HK$4.02 billion (US$510 million) in a fresh effort to reduce its debt and financing costs. NWD, controlled by tycoon Henry Cheng Kar-shun of Hong Kong’s third-richest family, is letting go of the retail portion of D-Park in Tsuen Wan, which has a total area of 630,000 square feet and 1,000 parking spaces, the companies said in a joint... https://www.scmp.com/business/companies/article/3253783/new-world-sells-its-interest-d-park-mall-tsuen-wan-rival-hong-kong-developer-chinachem-us510-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3253783/new-world-sells-its-interest-d-park-mall-tsuen-wan-rival-hong-kong-developer-chinachem-us510-million?utm_source=rss_feed Fri, 01 Mar 2024 06:07:21 +0000 The CEOs of major landlords and developers in Hong Kong have made building on the normalisation that began last year a top priority for 2024, with a focus on strengthening balance sheets, evolving tenant portfolios and exploring new business opportunities. These priorities also come with an emphasis on sustainability by offering green services to customers, they said. High interest rates, a slowing economy, a lack of talent and Hong Kong’s ageing population are among key challenges as the... https://www.scmp.com/business/article/3246818/ceos-top-hong-kong-builders-landlords-share-optimism-outlook-see-sustainability-key-issue-amid?utm_source=rss_feed https://www.scmp.com/business/article/3246818/ceos-top-hong-kong-builders-landlords-share-optimism-outlook-see-sustainability-key-issue-amid?utm_source=rss_feed Mon, 01 Jan 2024 03:30:15 +0000 Some of the world’s most complete dinosaur remains will go on permanent display in Hong Kong from Friday. Members of the public will be able to view rare exhibits, including the entire skeleton of a giant woolly mammoth, and learn more about the origins of life on earth at the Hong Kong Science Museum’s newest gallery. The palaeontology exhibition, called “Extinction, Resilience”, will also feature the world’s most complete remains of a Deinonychus, a bigger relative of the fearsome flesh-eating... https://www.scmp.com/news/hong-kong/health-environment/article/3234582/hong-kong-gets-real-life-taste-jurassic-park-new-exhibition-featuring-dinosaur-remains-and-complete?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3234582/hong-kong-gets-real-life-taste-jurassic-park-new-exhibition-featuring-dinosaur-remains-and-complete?utm_source=rss_feed Thu, 14 Sep 2023 13:13:50 +0000 Historically high lending rates did not stop Hong Kong’s homebuyers from returning to the market on Sunday to snap up a fresh batch of flats in Ho Man Tin, highlighting improved sentiment in the city’s battered home market. In the first two hours of the sale, 48 of the 90 flats were sold at the In One Above project by Chinachem Properties and MTR Corporation, according to Chinachem. Another 20 units were slated to be sold separately via bidding. The flats on offer on Sunday, consisting of one-... https://www.scmp.com/business/article/3221311/hong-kongs-homebuyers-return-market-snapping-new-flats-one-above-project-ho-man-tin-sunday?utm_source=rss_feed https://www.scmp.com/business/article/3221311/hong-kongs-homebuyers-return-market-snapping-new-flats-one-above-project-ho-man-tin-sunday?utm_source=rss_feed Sun, 21 May 2023 10:00:56 +0000 Hong Kong will face a shortage of over 60,000 residences for the elderly by 2032 as the city’s population rapidly ages, before eventually becoming the world’s oldest society by 2050, according to JLL. The city’s Kwun Tong, Yuen Long, Sha Tin and Eastern district are among the areas with the most serious ageing problem, the property consultancy said in a report on Tuesday. In Kwun Tong, only one in 41 elderly people will find a place in elderly homes, it added. “The ageing population is a time... https://www.scmp.com/business/article/3220783/hong-kongs-ageing-population-time-bomb-leave-shortage-60000-residences-elderly-2032-jll?utm_source=rss_feed https://www.scmp.com/business/article/3220783/hong-kongs-ageing-population-time-bomb-leave-shortage-60000-residences-elderly-2032-jll?utm_source=rss_feed Wed, 17 May 2023 00:00:27 +0000 Hong Kong’s homebuyers returned to the property market days after the city’s commercial banks opted to keep mortgage rates unchanged. MTR Corporation and Chinachem Group sold all 179 flats of their In One flats on offer at Ho Man Tin, agents said. The one-bedroom to three-bedroom units were offered at between HK$7.97 million and HK$30.45 million (US$3.9 million), or HK$27,083 per square foot. Over at Tuen Mun, 86 per cent of the 400 flats on offer at the second phase of the Grand Jete project by... https://www.scmp.com/business/article/3214859/hong-kong-property-homebuyers-rush-back-after-banks-held-loan-rates-steady-posing-bumper-sales-one?utm_source=rss_feed https://www.scmp.com/business/article/3214859/hong-kong-property-homebuyers-rush-back-after-banks-held-loan-rates-steady-posing-bumper-sales-one?utm_source=rss_feed Sat, 25 Mar 2023 13:25:02 +0000 Hong Kong property developers have dismissed fears about a drop in investor confidence after the authorities added national security clauses to land sale documents. Provisions from the Beijing-imposed national security law were found in recent tender documents for land sales, including one for a site at the junction of Sai Yee Street and Argyle Street in Mong Kok, where submissions will close on February 24. The document warned potential buyers they could be disqualified if they engaged in... https://www.scmp.com/news/hong-kong/politics/article/3210087/hong-kong-property-developers-dismiss-investor-confidence-fears-over-national-security-law-clauses?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3210087/hong-kong-property-developers-dismiss-investor-confidence-fears-over-national-security-law-clauses?utm_source=rss_feed Mon, 13 Feb 2023 14:44:22 +0000 CLP Holdings is designing a water-cooled air-conditioning system for a Chinachem Group building, billing it as the first “zero-carbon” chiller system in Hong Kong because its carbon footprint will be offset by a renewable-energy project in mainland China. The group, through wholly-owned unit CLPe, signed an agreement on Tuesday to upgrade the air-conditioning system at the 180,000-square-metre Nina Tower complex in Tsuen Wan. The new water-cooled system, controlled by artificial intelligence... https://www.scmp.com/business/companies/article/3209927/clp-chinachem-tout-hong-kongs-first-zero-carbon-air-conditioning-system-emissions-offset-mainland?utm_source=rss_feed https://www.scmp.com/business/companies/article/3209927/clp-chinachem-tout-hong-kongs-first-zero-carbon-air-conditioning-system-emissions-offset-mainland?utm_source=rss_feed Mon, 13 Feb 2023 01:30:09 +0000 Ecological conservation and smart technologies have helped Sun Hung Kai Properties (SHKP) sell more than 1,650 homes near Hong Kong’s Mai Po wetlands and generate over HK$11.9 billion (US$1.5 billion) in revenue, in a sign that such features are gaining ground with the city’s developers. The development process at Wetland Seasons Bay, built by Hong Kong’s biggest developer by market value in a wetland buffer area in Tin Shui Wai, was difficult as the firm had to take measures and tweak the... https://www.scmp.com/business/article/3208124/conservation-elements-smart-tech-help-hong-kongs-sun-hung-kai-properties-generate-over-us15-billion?utm_source=rss_feed https://www.scmp.com/business/article/3208124/conservation-elements-smart-tech-help-hong-kongs-sun-hung-kai-properties-generate-over-us15-billion?utm_source=rss_feed Fri, 27 Jan 2023 00:30:11 +0000 Hysan Development, Causeway Bay’s largest landlord, has set aside HK$2 billion (US$256.2 million) to upgrade its Lee Garden portfolio in the prime Hong Kong shopping district and turn it into a one-stop luxury shopping destination. The proposed “Lee Gardens Rejuvenation” includes the development of the Caroline Hill Road land parcel, Hysan executives said in a briefing last Thursday. The revamp will turn Lee Gardens into the “home of luxury”, said Ricky Lui, executive director and chief... https://www.scmp.com/business/article/3204642/hysan-earmarks-us256-million-lee-gardens-rejuvenation-causeway-bay-turn-it-home-luxury?utm_source=rss_feed https://www.scmp.com/business/article/3204642/hysan-earmarks-us256-million-lee-gardens-rejuvenation-causeway-bay-turn-it-home-luxury?utm_source=rss_feed Tue, 27 Dec 2022 23:30:09 +0000 Morning Studio editors Morning Studio editors [Sponsored article] The Chinachem Group Sustainability Conference was held on October 24 at the Nina Hotel Tsuen Wan West, with the theme: Creating Social Impact on the Zero Carbon Journey in Hong Kong. This year’s conference was attended by more than 1,700 people who joined either in person or online. Attendees gained valuable insights into decarbonisation strategies, and practical project experiences were shared by experts from the public, academic, financial, and building and construction... https://www.scmp.com/presented/business/topics/chinachem-sustainability-conference/article/3197456/chinachem-conference-explores-how-public-and-private-sectors-can-foster-sustainable-development?utm_source=rss_feed https://www.scmp.com/presented/business/topics/chinachem-sustainability-conference/article/3197456/chinachem-conference-explores-how-public-and-private-sectors-can-foster-sustainable-development?utm_source=rss_feed Tue, 01 Nov 2022 00:00:14 +0000 A charitable foundation set up by late Hong Kong tycoon Nina Wang Kung Yu-sum is not irreplaceable in the management of her HK$141 billion (US$17.9 million) estate, a court has ruled in leaving the door open for others to take charge of the assets bequeathed by the former richest woman in Asia. The High Court on Friday laid down the principles governing a scheme for implementing and regulating the charitable trusts created by the will of the late chairwoman of property giant Chinachem... https://www.scmp.com/news/hong-kong/law-and-crime/article/3196843/hong-kong-court-rules-charitable-foundation-nina-wang-not-essential-distributing-tycoons-wealth?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3196843/hong-kong-court-rules-charitable-foundation-nina-wang-not-essential-distributing-tycoons-wealth?utm_source=rss_feed Fri, 21 Oct 2022 13:40:53 +0000 Hong Kong-based property firm Chinachem Group has bought the office building in London being leased by popular short video app TikTok for £158.5 million (US$182 million), according to a statement by the company once owned by the late billionaire Nina Wang Kung Yu-sum. The acquisition from London-listed property investment and development company Helical marks the privately held developer’s first venture outside Hong Kong as it diversifies its assets. “We’re delighted to have acquired... https://www.scmp.com/business/article/3191802/hong-kong-developer-chinachem-buys-tiktoks-london-office-us182-million?utm_source=rss_feed https://www.scmp.com/business/article/3191802/hong-kong-developer-chinachem-buys-tiktoks-london-office-us182-million?utm_source=rss_feed Thu, 08 Sep 2022 10:30:18 +0000 For the septuagenarian talk show host and I Ching scholar Shum Yat-fei, a home for the golden years needed special amenities to cater for his needs: wide entrances for his wheelchair, hand rails on corridors and call buttons throughout the facility for emergencies. That was why Shum, 71, did not think twice when it came to putting down HK$6 million (US$764,000) upfront to rent The Tanner Hill development at North Point on Hong Kong Island in 2016 for his use throughout his lifetime. The 800... https://www.scmp.com/business/article/3183003/hong-kongs-developers-step-fill-shortage-quality-pension-homes-golden?utm_source=rss_feed https://www.scmp.com/business/article/3183003/hong-kongs-developers-step-fill-shortage-quality-pension-homes-golden?utm_source=rss_feed Sat, 25 Jun 2022 02:00:22 +0000 Hong Kong’s home prices could drop 10 per cent in the first half, as the city’s worsening Covid-19 outbreak caused the first three months to be a washout for property sales, forcing analysts to reverse their forecasts. Home prices may fall by 5 per cent in 2022, according to the property consultant Colliers, as it reversed its earlier forecast of a 3-per cent gain in mass-market homes, and a 5-per cent increase in the luxury market. Collier’s reversal is the most dramatic change among four... https://www.scmp.com/business/article/3170347/hong-kong-analysts-reverse-bullish-forecasts-u-turn-property-market-home?utm_source=rss_feed https://www.scmp.com/business/article/3170347/hong-kong-analysts-reverse-bullish-forecasts-u-turn-property-market-home?utm_source=rss_feed Mon, 14 Mar 2022 03:40:18 +0000 Major Hong Kong developers plan to replace some manual operations with technology in a bid to eliminate human error and ensure safety and build quality in the wake of the construction fiasco at a major residential project rocked the world’s most expensive property market. Sun Hung Kai Properties (SHKP), the city’s largest developer by market value, and Chinachem Group said they were re-examining their construction work procedures and using new technology following the debacle at New World... https://www.scmp.com/business/article/3142607/hong-kong-developers-put-their-faith-technology-cut-human-error-after-new?utm_source=rss_feed https://www.scmp.com/business/article/3142607/hong-kong-developers-put-their-faith-technology-cut-human-error-after-new?utm_source=rss_feed Tue, 27 Jul 2021 01:30:14 +0000 Twelve years after former chief executive Donald Tsang Yam-kuen announced that Central Market would be part of the “Conserving Central” initiative in his 2009 policy address, the project might finally see some progress with a 10-year revitalisation contract being awarded to Noble Vantage, a subsidiary of Chinachem Group. While this is encouraging news, the realisation of the project is long overdue, having gone through cycles of design competition, public consultation, judicial review and the... https://www.scmp.com/comment/opinion/article/3122893/hong-kong-heritage-can-central-market-escape-fate-becoming-just?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3122893/hong-kong-heritage-can-central-market-escape-fate-becoming-just?utm_source=rss_feed Wed, 24 Feb 2021 22:45:11 +0000 Prices of lived-in homes rose last month in Hong Kong, ending three straight months of decline, as buyers were encouraged by the city’s tapering coronavirus caseload to return to the property market, confident that the local economy would bounce back from its recession. The price index for lived-in property rose by 0.13 per cent to 380 in January, the first monthly increase since September, according to data provided by the Rating and Valuation Department. The index was still down by 16.9... https://www.scmp.com/business/article/3122915/hong-kongs-january-lived-home-prices-rise-reversing-three-months-declines?utm_source=rss_feed https://www.scmp.com/business/article/3122915/hong-kongs-january-lived-home-prices-rise-reversing-three-months-declines?utm_source=rss_feed Wed, 24 Feb 2021 09:00:18 +0000 Hong Kong’s biggest developer by value, Sun Hung Kai Properties, and Chinachem Group said they may bid for a prime plot of commercial land to be sold via a rare tender process that takes into account participants’ design plans as well as cash bids. The government is using a “two-envelope” approach for the sale of New Central Harbourfront Site 3, meaning the winner will be determined by assessing both price and design proposal. This deviates from the practice of awarding sites based on the... https://www.scmp.com/business/article/3114585/sun-hung-kai-properties-chinachem-group-may-bid-rare-two-envelope-tender?utm_source=rss_feed https://www.scmp.com/business/article/3114585/sun-hung-kai-properties-chinachem-group-may-bid-rare-two-envelope-tender?utm_source=rss_feed Fri, 18 Dec 2020 14:37:51 +0000 Hong Kong’s streak of sell-out weekends of residential property ended when two developers sold fewer than a third of the combined 212 flats on offer in two districts, as the city’s strictest social distancing measures to date dampened sentiments. MinMetals Land, the real estate subsidiary of one of China’s largest metallurgical producers, sold 60 of 161 apartments at its Montego Bay project in Yau Tong as of 5:30pm, sales agents said. In Yuen Long, Road King failed to find a single buyer for the... https://www.scmp.com/business/article/3112725/hong-kongs-strict-covid-19-social-distancing-rule-spoils-mood-homebuyers?utm_source=rss_feed https://www.scmp.com/business/article/3112725/hong-kongs-strict-covid-19-social-distancing-rule-spoils-mood-homebuyers?utm_source=rss_feed Sat, 05 Dec 2020 12:04:04 +0000 Chinachem Group is changing its land-bidding strategy to focus on mass housing and move away from super-luxury trophy projects as the Hong Kong developer marked its 60th anniversary in the business. The developer now enjoys the liberty of elevating social and environmental objectives to the same level of importance as profit motives, away from the scrutiny of public shareholders as part of late billionaire Nina Wang Kung Yu-sum’s family trust. Thus, it has no plan to bid at the upcoming... https://www.scmp.com/business/article/3111261/chinachem-shifts-focus-mass-housing-luxury-projects-noble-target-set?utm_source=rss_feed https://www.scmp.com/business/article/3111261/chinachem-shifts-focus-mass-housing-luxury-projects-noble-target-set?utm_source=rss_feed Wed, 25 Nov 2020 04:13:48 +0000 Mainland China’s companies and business executives, the vital lifeblood in sustaining Hong Kong’s commercial and luxury residential real estate, are showing tentative signs of returning to the city, drawn by a spate of stock listings that require them to set up offices locally, analysts said. The Chinachem Group, which owns and develops high-end apartments, offices and shopping centres in Hong Kong, recently leased one of its luxury flats to a Chinese client for HK$200,000 (US$25,800) a month,... https://www.scmp.com/business/article/3101659/chinese-companies-are-showing-signs-returning-hong-kongs-offices-and?utm_source=rss_feed https://www.scmp.com/business/article/3101659/chinese-companies-are-showing-signs-returning-hong-kongs-offices-and?utm_source=rss_feed Tue, 15 Sep 2020 13:00:25 +0000 A face-to-face interview with Kiki Wong, a forensics specialist who has spent years researching body language, micro facial expressions and lie detection, is a daunting prospect. “I don’t intentionally seek out information when I meet someone, but there are things that I subconsciously pick up on,” she says. “I’m a pretty good gauge of what kind of person you are. You seem relaxed, not very conservative.” So far, so good. “People might be surprised to learn that 93 per cent of communication is... https://www.scmp.com/lifestyle/article/3087489/hong-kong-body-language-expert-donald-trump-carrie-lam-and-barack-obama?utm_source=rss_feed https://www.scmp.com/lifestyle/article/3087489/hong-kong-body-language-expert-donald-trump-carrie-lam-and-barack-obama?utm_source=rss_feed Thu, 04 Jun 2020 21:00:14 +0000 Chinachem Group is charging close to zero base rents as part of relief measures offered to some of its tenants in its Tsim Sha Tsui shopping centres since March. Donald Choi, the Hong Kong retail landlord’s chief executive, said in an interview on the sidelines of the China Conference, which the South China Morning Post is hosting, on Thursday that tenants selling duty-free products targeted mainly at mainland Chinese tourists have been offered the favourable terms to power through the city’s... https://www.scmp.com/business/article/3084462/hong-kong-retail-landlord-chinachem-cuts-base-rent-close-zero-some-tenants?utm_source=rss_feed https://www.scmp.com/business/article/3084462/hong-kong-retail-landlord-chinachem-cuts-base-rent-close-zero-some-tenants?utm_source=rss_feed Fri, 15 May 2020 00:00:12 +0000 Hong Kong home prices have bottomed out and are likely to rise between 5 and 10 per cent from this month up to the end of the year, as the Covid-19 outbreak in the city comes under control and economic activity picks up in its wake, according to Citi. “Home price should resume an uptrend once concerns on Covid-19 are gone,” Citi’s property analyst Ken Yeung wrote in a research note on Monday. “We generally expect below-average transaction volume will continue to accumulate pent-up demand in the... https://www.scmp.com/business/article/3082981/only-way-hong-kong-property-prices-citi-expects-between-5-10-cent-gains?utm_source=rss_feed https://www.scmp.com/business/article/3082981/only-way-hong-kong-property-prices-citi-expects-between-5-10-cent-gains?utm_source=rss_feed Wed, 06 May 2020 00:30:13 +0000